The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1887-05-20


usasssssly cs.ssrvsssvs neshsds Thas
make Live Americans weary
To the American the methods Of
conducting business in London seem
slow and antiquated. There il an evi-
dent desire on the part Of many largo
firms to make the transaction Of busi-
ness difficult instead Of easy. There .
an outer inquiry Office. At which you
must give your name to > clerk. who
often intimates by his looks that he ID
comforting favor by taking il; the
name Is passed on to an inner Office.
and you are probably told to take :
seat in the reception room. until tho
principals are 1t liberty TO see you. All
this contrasts strongly with the accessi-
bility Of business men in America.
The greatest caution IL exercised in
the opening Of new accounts. Before
you can buy goods you must first either
be introduced by an old customer or
establish your respcctability or SOL
vency. II you step into large bank
in London, and put your money on the
counter and ask to buy draft on New
York, Berlin or Paris. you will be told
that they do not know You and can
only sell drafts to their regular Gus
toners or to people introduced by
them. There Is no question thai the
money you offer is not good, but they
do not know you. / was once. years
ago, refused draft in bank in which
l had = special deposit Of money At in
terest, and, Notwithstanding brought
the clerk from the special deposit de-
partment Of the bank to vouch for my
identity. the draft clerk told me: ..Ah.
yes! you have a special deposit in that
department. but special deposits are re-
ceived from any one without introduce
ton; and really. since you have never
been introduced to the bank. you are
still in the position Of q stranger to u
and we can not sell you the draft"
Another banking custom that seems
strange to US is that open checks (not
''crossed'') are paid to strangers with
out identification. II you have check
payable to John Jones" or order. the
bank does not require that you be
identified as John Jones, but you pre-
sent the check. indorse your name
John Jones on the back, and receive
the money in bills or gold But most
checks are crossed and not "open
checks" and you can not get the pay
ment Of CROSSED" check by present.
ing it personally at the bank. no mat
ter how much you may be identified
To "cross" . check you draw two
parallel lines across the face Of 1t. and
write between them either the name Of
the bank with whom the person to
whom the check is payable intends to
deposit it, or simply the terminal
words"& Co. !" any check 50 crossed"
must be deposited in q bank tor collec-
ton. and presented BY bank mes
senger for payment. The crossing Of
checks thus forms IN almost absolute
safeguard against payment to the
wrong persons. 1t might be adopted
with advantage In other countries.
Some Of the London banks have de-
posits Of 800. 0O0. 900 and $3.50. 900. 0O0.
but this is the total Of deposits Of the
main bank in the City Of London"
Of its dozen Or more Of branches in
larger London" and its thirty or for
ty country branches. 90 that to com
pare the deposits Of the largest London
banks with those Of the largest New
York banks would hardly be fair. I'M
less you added to the deposits Of the
New York banks the deposits Of all
their correspondent banks IN London
Cor. Chicago Inter Ocean.